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Crypto networks are joining forces with crypto ATMs to improve accessibility

The partnership between smart contract platform Callisto Network and Bitcoin ATM company Bitcoinmat promises an exciting future in terms of said accessibility

Shashank Bhardwaj
Published: Jun 12, 2023 03:54:56 PM IST
Updated: Jun 12, 2023 08:43:40 PM IST

Crypto networks are joining forces with crypto ATMs to improve accessibilityImage: Shutterstock

Even as crypto-assets continue to gain attention, the lack of easy access for the general public remains a significant issue across the world. In response, Bitcoin ATMs have emerged as a solution, bridging the gap between traditional financial systems and the world of digital currencies. These ATMs provide a tangible and convenient method for individuals to buy or sell cryptocurrencies, particularly for those facing barriers to online exchanges or traditional banking services.

However, the current setup of Bitcoin and other crypto ATMs has limitations. They are not widely available, and many only support popular cryptocurrencies such as Bitcoin, Litecoin, Ether, and Binance Coin, leaving out lesser-known altcoins.

To enhance accessibility, several modern crypto networks are partnering with established Bitcoin ATM companies. These collaborations enable users to instantly convert traditional fiat currency into the network's crypto. 

Furthermore, users can directly purchase cryptocurrencies using their bank payment cards, eliminating the need for complex verification processes and online exchange account setups. By leveraging their existing bank cards, users can easily acquire digital tokens and engage in the crypto market without the hassle of lengthy registration procedures.

In some countries, Bitcoin ATM users can opt for voucher programs as an alternative to traditional Know Your Customer (KYC) processes. These programs offer a convenient way to top up digital wallets without extensive verification of personal information.

A notable partnership has recently formed between Callisto Network, a smart contract platform that is based on a proof-of-work blockchain, and Bitcoinmat, a well-known crypto ATM company operating in Central and Southern Europe. This collaboration aims to expand the accessibility of Callisto Network's native crypto assets, CLO. 

Karel Fillner, Chief Strategy Officer of Callisto Network, expressed enthusiasm for the partnership, highlighting its significance in connecting digital and traditional financial systems while benefiting the entire crypto industry.

The partnership with Bitcoinmat marks a significant milestone for Callisto Network, making CLO more accessible and opening up new user opportunities. Bitcoinmat's user-friendly ATMs enable convenient interaction with preferred digital assets. Currently operating 60 ATMs across Slovakia, the Czech Republic, and Greece, Bitcoinmat plans to expand its presence to additional locations. 

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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